IGL shares experienced a nearly 4% surge in trading on December 5 due to the announcement of an upcoming board meeting to discuss a potential bonus share issue.

This positive market reaction reflects investor optimism regarding the company's intention to reward its equity shareholders.

The Board of Directors will meet on December 10, 2024, to consider the proposal, which is subject to shareholder approval.

Although the specific bonus ratio has not been disclosed, the stock price has already increased by 3.82% in anticipation of the announcement, reaching an intraday high of Rs 374 on the NSE.

This increase in stock price demonstrates the market's confidence in the potential bonus share issue.

Investors are eagerly awaiting the outcome of the board meeting and the subsequent shareholder approval.